Is it Worth Spending on Bitcoin?
Do your eyes light up in excitement when you hear the word “Bitcoin” with the imagination of dollars falling from your bank account. But believe me, it’s not a quick get-rich scheme that makes you a billionaire in just a night.
So why do people invest in Bitcoin? And why is it worth it to invest in it? Let’s go through the article to find out.
What’s the Bitcoin Fantasy Anyway?
In simple terms, Bitcoin is a currency that exists online, a digital currency that can be exchanged without any obstacles from central authorities like government agencies and other influential institutions. (banks)
Bitcoin is an attractive investment opportunity because its price value in the market is higher than you think. Unlike the mutual funds and stock markets, you can earn more profit with the volatility of the market.
Let’s See Why it’s Enticing to Invest in Bitcoin
Investing in the bitcoins can be a major hit because of its anonymous quality is not being tracked by any authoritative figure. It’s a great investment for people who want to keep their transactions extremely private and confidential.
- Inflation Risk is Lower
As currencies like fiat and many other systems are under the regulations of the government, it leads to fluctuations, and you might lose money with the money’s value diminishing.
But you can have hope in Bitcoin as its value cannot decrease. Why? Because there are only 21 million Bitcoins in circulation.
- It’s Growth Rate is Higher
Many people are becoming familiar with the lucrative usage of the bitcoin industry and using them in their transactions. The adoption rate by people is much higher than any other digital platform.
- Investors Have Easy Access
Many people used to feel left out in most of the investments, but bitcoin is accessible to anyone with the internet connection. Easy access allows people to be encouraged to become investors.
Did you know that bitcoin is the most liquid asset in the market today? The ecosystem it formulates is good for all the investors with its high volume of liquidity. Bitcoin holders can transfer their currencies without having to fear the authorities.
- Market Demand
Is there a high demand for bitcoins? Yes, indeed, it is regarded as the future currency by renowned figures. Three years ago, the value of bitcoin was $1.3 billion, but now it has risen to almost $10 billion. So as long as there is a demand for bitcoin, it will continue to be a highly volatile investment.
As blockchain technology entirely follows a decentralized system, they give a higher level of security. The transactions done here are anonymous and have the tendency to retain privacy as long as it takes.
- Bitcoins are Portable
Of course, you can’t carry traditional currencies anywhere you go, like say if you have to carry millions of cash somewhere. That’s where bitcoin comes in handy with its tendency to be portable. Carrying millions of cash in your wallet is not a big deal.
- Higher Return
All the regular investments like the stock market and mutual funds do offer attractive returns but bitcoins with its Cryptocurrency Exchange Software offer a higher rate of return than any other investments there is. Who knows, you can become a millionaire soon.
Investing in bitcoins are cheap and very easy. You can ship the product to the buyer without worrying about recovering it. The buyer has no reason to claim the money back.
- No Worries of Third- Party Interruptions
The system of bitcoin is purely P2P, so the user- experience is awesome while doing the transactions through Bitcoin. Since there are no interruptions from higher authority figures like government and banks, don’t need to worry about governments freezing your accounts and chasing you down the lane.
- Transaction Fees are Low
Standard fees for foreign purchases and wire transfer is very low since there are no interruptions from the governments and banks. You don’t need to wait for any authorization from higher authorities or go through significant wait periods.
- No Tax for Purchases
As all the transactional identities remain anonymous, the sale tax is not levied on bitcoin purchases. That is one of the major advantages that can be enjoyed through bitcoin investment.
Satoshi Nakamoto bought Bitcoin to live in 2008. The reason he gave life to it because he saw how the banks and government could crash the value of money in a snap. The decentralized currency needs no intervention or permission to be operated at all. You have the option to Create Cryptocurrency as well.
Even if there is an inevitable crash in the market, you won’t be exposed to the drops from the cryptocurrency. Hence, you must learn to invest in the cryptocurrencies if you want to see yourself successful in the long term. Also, it is much more fun to save money through them than hoarding it in the banks.